News and articles
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Last December, the sales of residential properties in South Florida dropped sharply. The price growth in Miami-Dade, Broward, and Palm Beach counties also slowed down, according to the Miami Association of Realtors that analyzed sales on multiple listing services. In monetary terms, the sales in these three counties amounted to $3.4 billion, which...
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Florida is setting records for real estate transactions this year. The sunny state has always been attractive to those wanting to move closer to the tropics or buy property in Florida for a beach holiday. Over the past 5 years, houses and apartments in Florida have increased in price by about 80% on average, and the trend is likely to continue in...
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Several reports were published last week, demonstrating that the Florida real estate market remains strong despite the unfavorable conditions in the US economy as a whole. Specifically, a report by Florida Realtors says that 287,352 single-family houses were sold in this state in 2022, which is 18% below the 2021 level. The year 2021 was...
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One of the relatively accurate methods of counting new permanent residents is the driving licenses issuance statistics. In 2022, more than half a million people changed their old driving licenses for new ones issued in Florida, probably succumbing to the charm of the tropical climate, favorable tax regime, and, perhaps, political views of the...
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The Florida real estate market is apparently cooling down. The recently published data shows that sales dropped significantly in monetary terms compared to last year. According to a report by Florida Realtors, the sales of single-family houses reduced to $30.6 billion over the past three months, i.e. by slightly more than 30% in monetary terms...
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Serhant, a US real estate brokerage, has recently published a report for 2022 that analyzes the sales of properties worth over $10 million in New York and South Florida, where the ultra-rich prefer to settle. According to the report, these sales are declining. For instance, in the first half of the previous year, 27% fewer purchase and sale...
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These two Florida cities were included in the list of best US locations for renting an apartment and working from home. This rating was compiled based on the results of a study conducted by RentCafe. It assessed the cost of living, the rent, as well as opportunities for striking a healthy work/life balance. Cities from southern and southeast...
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Florida rentals have been growing faster than the national average for three years. One of the reasons is the population inflow to this southern state, driving up the demand and reducing the supply in the market, experts say. For instance Ken Johnson, Associate Dean of Graduate Programs at the Florida Atlantic University, estimates that tenants in...
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There was a rapid increase in prices in the residential real estate market in Florida last year due to a low supply and high demand. In May, prices reached their peak, increasing by 23% on an annual basis. This trend was formed after the introduction of restrictions related to the COVID-19 pandemic. Americans who switched to a remote work format...
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CoreLogic (an international company collecting and analyzing real estate information and offering data-based solutions) quotes the House Price Index for last November and a forecast for 2023 in a recently published report. According to this data, prices of residences in most US communities will continue to rise despite a series of negative drivers...
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